Compass Point Cuts Vornado Realty Trust (NYSE:VNO) Price Target to $27.00

Vornado Realty Trust (NYSE:VNO) had its price objective reduced by equities research analysts at Compass Point from $28.00 to $27.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. Compass Point’s target price suggests a potential upside of 13.92% from the stock’s current price.

Several other equities research analysts also recently issued reports on the stock. Barclays initiated coverage on shares of Vornado Realty Trust in a research note on Wednesday, March 27th. They set an “underweight” rating and a $22.00 price objective for the company. Morgan Stanley raised Vornado Realty Trust from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $24.00 to $26.00 in a research report on Thursday, March 28th. The Goldman Sachs Group decreased their target price on Vornado Realty Trust from $24.00 to $21.00 and set a “sell” rating for the company in a research report on Thursday, February 22nd. Finally, Evercore ISI dropped their target price on Vornado Realty Trust from $28.00 to $26.00 and set an “underperform” rating on the stock in a report on Thursday, February 15th. Six investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $25.00.

Vornado Realty Trust Trading Down 2.1 %

NYSE:VNO traded down $0.51 on Wednesday, reaching $23.70. The stock had a trading volume of 1,508,382 shares, compared to its average volume of 2,219,482. The company has a market cap of $4.51 billion, a price-to-earnings ratio of 157.87 and a beta of 1.57. Vornado Realty Trust has a 12-month low of $12.31 and a 12-month high of $32.21. The company has a debt-to-equity ratio of 1.82, a current ratio of 4.95 and a quick ratio of 4.95. The firm’s fifty day moving average is $26.72 and its two-hundred day moving average is $25.99.

Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings results on Monday, February 12th. The real estate investment trust reported $0.04 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.55). Vornado Realty Trust had a return on equity of 3.22% and a net margin of 5.82%. The company had revenue of $441.89 million for the quarter, compared to analyst estimates of $453.82 million. During the same period last year, the company posted $0.72 EPS. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. Equities analysts expect that Vornado Realty Trust will post 2.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Vornado Realty Trust

Several large investors have recently made changes to their positions in VNO. Vanguard Group Inc. grew its holdings in Vornado Realty Trust by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 24,458,815 shares of the real estate investment trust’s stock worth $554,726,000 after buying an additional 116,504 shares in the last quarter. Norges Bank bought a new position in shares of Vornado Realty Trust in the fourth quarter worth $489,922,000. Putnam Investments LLC increased its holdings in shares of Vornado Realty Trust by 3.0% during the fourth quarter. Putnam Investments LLC now owns 9,978,649 shares of the real estate investment trust’s stock valued at $281,897,000 after purchasing an additional 288,952 shares during the period. Kemnay Advisory Services Inc. bought a new stake in shares of Vornado Realty Trust during the third quarter valued at about $132,326,000. Finally, Deutsche Bank AG raised its stake in shares of Vornado Realty Trust by 141.9% during the third quarter. Deutsche Bank AG now owns 4,238,442 shares of the real estate investment trust’s stock valued at $96,128,000 after purchasing an additional 2,486,439 shares in the last quarter. Institutional investors and hedge funds own 90.02% of the company’s stock.

About Vornado Realty Trust

Vornado is a fully integrated real estate investment trust (REIT) with a portfolio of premier New York City office and retail assets and the developer of the new PENN DISTRICT. While concentrated in New York, Vornado also owns the premier assets in both Chicago and San Francisco. Vornado is a real estate industry leader in sustainability, with over 27 million square feet of LEED-certified buildings and over 23 million square feet at LEED Gold or Platinum.